If you are engaged in the operation of a mortgage consumer discount company in Pennsylvania, you are required under 7 Pa. C.S. Ch. 61 Act of July 8, 2008 (p.L. 796, No. 56) to file a Pennsylvania Mortgage Consumer Discount Company Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Pennsylvania Mortgage Consumer Discount Company Bond holds you accountable for your business decisions.
By possessing a Pennsylvania Mortgage Consumer Discount Company Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.